Uber is in discussions with private equity firms and banks to secure funding for the expansion of its robotaxi operations, CEO Dara Khosrowshahi confirmed.

The ride-hailing giant has already integrated Waymo’s autonomous vehicles into its app in Atlanta and Austin. In July, it signed a $300m deal with electric vehicle manufacturer Lucid and autonomous tech provider Nuro, aiming to deploy more than 20,000 robotaxis over the next six years.

Khosrowshahi outlined three operational models for the venture: paying fixed rates to third-party owners, revenue-sharing with fleet partners, and directly owning vehicles while licensing self-driving software.

“We are talking to private equity players, we have talked to banks,” he said. “Once we prove the revenue model, how much these cars can generate on a per day basis, there will be plenty of financing to go around.”

While Uber plans to deploy a “modest” share of its $7bn annual cash flow toward the rollout, the company also indicated it may sell minority stakes in subsidiaries to support its strategy.

The move comes as competition intensifies in the robotaxi sector. Waymo is now active in five US cities, and Tesla launched its own robotaxi service in Austin in June.

Despite regulatory hurdles and slow consumer adoption, analysts view robotaxis as a potential game-changer for Uber’s margins by reducing dependence on human drivers.

The company said it has not yet observed a drop in demand in markets where robotaxi services have launched.

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